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1. Josh bought a CD (Certificate of Deposit) for $4000 at a rate of 4% for 3 years. How much simple interest did he earn?
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12 votes
1. Josh bought a CD (Certificate of Deposit) for $4000 at a rate of 4% for 3 years.

How much simple interest did he earn?

User Rahul Menon
by
4.7k points

1 Answer

10 votes

Answer:

4000/100 X 4 = 160

160 X 3 = 480

$480 interest

User Philipp Jahoda
by
5.0k points
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